10/08/2023 – WINGX’s weekly Business Aviation Bulletin.
A big increase in bizjet flights from Teterboro compared to last year may point towards a recovery in corporate flight demand. In Europe, the predictable mid-summer demand for bizjets was evident across the Med, notably at Olbia. Bizjet demand is still hitting new peaks in Turkey, but well behind last year´s records in the UAE. In Asia, Gulfstream bizjet activity is up 37% on August last year.
In the first six days of August, global business jet and turboprop sectors in August fell 3% compared to August last year, still 16% ahead of August 4 years ago. Comparatively, Scheduled Airline activity is 17% ahead of last year, 5% short of August 2019. The top 5 commercial airlines (Southwest, American, Delta, Ryanair & United Airlines) are flying 13% ahead of August 2022, 7% ahead of 2019. Global cargo activity is 7% down on last year, 10% up on 2019.
Chart 1: Global fixed wing flights by sector, August 2023 compared to previous years.
(Note business aviation includes turboprops)
In Week 31 business jet activity in Europe fell 9% compared to Week 30 2023, 8% below the same week last year, 11% ahead of 2019. Italy has started August as the top market in Europe, departures are 2% ahead of July last year, with almost 25% growth compared to August 2019. Whereas, this month is seeing significant declines in bizjet traffic compared to last year in the UK, France and Germany. In Austria so far this month, bizjet traffic is down 10% compared to August 2019.
Nice is the busiest airport at the start of this month, although bizjet activity is 1% behind last year. Holiday hotspots are seeing mixed trends at the start of August. Activity in Olbia is well ahead of last year, setting new records as departures surge up 18% compared August 2022, 31% ahead of 2019. Ibiza has started this month 11% behind last year, 4% behind 2019. Palma de Mallorca and Cannes-Mandelieu 5% and 8% ahead of last year respectively.
Chart 2: Bizjet flights in European countries, August 2023 compared to previous years.
In Week 31 (ending 6th August), business jet activity across North America fell 5% compared to the previous week, 4% below the same dates in 2022. Teterboro ranks as busiest bizjet airport this month, almost double the amount of activity of 2nd ranked Dallas Love Field. Bizjet departures from Teterboro are 17% ahead of last year, 7% ahead of 2019. Other airports with big gains on last year include Nashville and Miami-Opa Locka. Fort Lauderdale bizjet departures are up almost 50% compared to 2019. Other airports, including Westchester County, Chicago Midway, Centennial and Washington Dulles have seen less activity this month than in August 2019.
Chart 3: North America Top Bizjet Airports, August 2023 compared to previous years.
Business jet activity in Asia has started strong this month, departures 10% ahead of last year, 42% ahead of 2019. India is the busiest market at the start of this month, triple digit growth compared to 2019. China is seeing triple digit growth compared to the start of August last year, 18% ahead of 2019. Gulfstream fleets are the busiest in the region this month, activity 37% ahead of last year, 32% ahead of 2019. Bombardier fleets seeing similar growth, departures 3% ahead of last year, 26% ahead of 2019. Airbus fleets seeing declines compared to last year and 2019.
Chart 4: Asia Business Jet OEM fleet activity August 2023 compared to previous years.
Business jet activity has started August slightly behind last year, departures less than 1% down compared August 2022, although 38% ahead of 2019. Turkey accounts for 56% of bizjet departures in the region this month, departures up 11% compared to last year, 49% ahead of 2019. Elsewhere activity is mixed, United Arab Emirates seeing activity drop 20% compared to last year, Saudi Arabia 12% behind 2019. UAE, Jordan, Qatar and Oman are seeing triple digit growth compared to 4 years ago.
Chart 5: Bizjet flights in Middle East countries, August 2023 compared to previous years.
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